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Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Foreign Currency Derivative Contracts | As of March 31, 2016 and December 31, 2015 we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands):
|  | March 31, 2016
|  | Notional |  | Contractual |  | Settlement
Derivative Contracts |  | Amount |  | Exchange Rate |  | Date
Canadian dollar |  | $ | 2,989 |  |  | 1.3384 |  | 4/11/2016
Euro |  | 4,418 |  |  | 1.1045 |  | 4/11/2016
Euro |  | 3,603 |  |  | 1.10848 |  | 4/15/2016
Norwegian kroner |  | 9,341 |  |  | 8.5646 |  | 4/11/2016
Pound sterling |  | 5,668 |  |  | 1.417 |  | 4/11/2016
|  | December 31, 2015
|  | Notional |  | Contractual |  | Settlement
Derivative Contracts |  | Amount |  | Exchange Rate |  | Date
Canadian dollar |  | $ | 5,091 |  |  | 1.3751 |  | 1/13/2016
Euro |  | 19,706 |  |  | 1.0948 |  | 1/13/2016
Norwegian kroner |  | 11,498 |  |  | 8.6973 |  | 1/13/2016
Pound sterling |  | 7,516 |  |  | 1.5031 |  | 1/13/2016
Schedule of Fair Value by Balance Sheet Location | The following table summarizes the location and fair value amounts of all derivative contracts in the consolidated balance sheets as of March 31, 2016 and December 31, 2015 (in thousands):
Derivatives not Designated as Hedging Instruments |  | Consolidated Balance Sheet Location |  | March 31, 2016 |  | December 31, 2015
Foreign currency contracts |  | Accounts receivable, net |  | $ | — |  |  | $ | 210 |
Foreign currency contracts |  | Accrued and other current liabilities |  | (764 | ) |  | — |
Impact of Derivatives Instruments on the Income Statement | The following table summarizes the location and amounts of the realized and unrealized losses on derivative contracts in the consolidated statements of operations (in thousands):
|  |  |  | March 31,
Derivatives not Designated as Hedging Instruments |  | Location of Loss Recognized in Income on Derivative Contracts |  | 2016 |  | 2015
Unrealized loss on foreign currency contracts | Other income |  | $ | (974 | ) |  | $ | — |
Realized loss on foreign currency contracts |  | Other income |  | (714 | ) |  | — |
Total net loss on foreign currency contracts |  |  |  | $ | (1,688 | ) |  | $ | — |
Offsetting Assets | The following table presents the gross and net fair values of our derivatives at March 31, 2016 and December 31, 2015 (in thousands):
|  | Derivative Asset Positions |  | Derivative Liability Positions
|  | March 31, 2016 |  | December 31, 2015 |  | March 31, 2016 |  | December 31, 2015
Gross position - asset / (liability) |  | $ | — |  |  | $ | 316 |  |  | $ | (764 | ) |  | $ | (106 | )
Netting adjustment |  | — |  |  | (106 | ) |  | — |  |  | 106 |
Net position - asset / (liability) |  | $ | — |  |  | $ | 210 |  |  | $ | (764 | ) |  | $ | — |
Offsetting Liabilities | The following table presents the gross and net fair values of our derivatives at March 31, 2016 and December 31, 2015 (in thousands):
|  | Derivative Asset Positions |  | Derivative Liability Positions
|  | March 31, 2016 |  | December 31, 2015 |  | March 31, 2016 |  | December 31, 2015
Gross position - asset / (liability) |  | $ | — |  |  | $ | 316 |  |  | $ | (764 | ) |  | $ | (106 | )
Netting adjustment |  | — |  |  | (106 | ) |  | — |  |  | 106 |
Net position - asset / (liability) |  | $ | — |  |  | $ | 210 |  |  | $ | (764 | ) |  | $ | — |

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